Markets in everything but is there a core?

Ireland would need to get a significant reduction in its debt burden in order to get any referendum on new European budgetary rules passed, Minister of State for Finance Brian Hayes has said.

"The idea that we could have a referendum without that agreement, on a substantial re-arranging of our debt, wouldn't fly," Mr Hayes said in an interview with the Sunday Business Post .

"We would have to have that in place before we put the question (to the people) and that's beginning to be understood at an EU level, which puts us in a stronger position," he said.

Story here, via Economistmeg.